Global Alumina to acquire all of BHP Billiton's one-third interest in a proposed alumina Project

Global Alumina Corporation, a corporation participating in a joint venture to develop an alumina refinery, mine and associated infrastructure in the bauxite-rich region of the Republic of Guinea, announced today that Dubai Aluminium Company Limited ("DUBAL") and MCD Industry Holding Company LLC ("Mubadala") have waived their pre-emptive rights to purchase their pro rata share of Broken Hill Proprietary Company Limited's ("BHP Billiton") interests in the Project. Therefore, under the terms of the previously announced sale and purchase agreement ("SPA") with BHP Billiton, and subject to certain conditions stipulated therein, Global Alumina will acquire all of BHP Billiton's one-third interest in the Project, increasing Global Alumina's ownership interests in the Project from its current level of 33.3% to 66.7%.

There can be no assurances that the Company's previously announced efforts to raise capital will be successful, and that the acquisition of BHP Billiton's interests will be completed.

About Global Alumina

Global Alumina is in a joint venture through its wholly owned subsidiary, Global Alumina International, Ltd., with BHP Billiton, DUBAL and Mubadala, to develop an alumina refinery in the bauxite-rich region of the Republic of Guinea. Global Alumina is headquartered in Saint John, New Brunswick and has administrative offices in New York, London and Montreal. For further information visit the Company's website at www.globalalumina.com.